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Yet ANother Goldman sach WallStreet Wolf Moves to Crypto World

Apr 12, 2018 Posted /  853 Views

Yet ANother Goldman sach WallStreet Wolf Moves to Crypto World

What came as a surprise, rather shock a few hours ago was this blazing piece of information about a Goldman Sachs employee leaving the company to deal in cryptocurrencies.

This simply shows how the world of crypto holds the ability to pull towards it the finest brains of this industry, and that any price is too small an investment always. The events started when the early cryptocurrency investor Mike Novogratz had hired Richard Kim an associate with the Goldman Sachs to serve as the new COO of his crypto merchant bank Galaxy Digital, says a person familiar with the matter.

Kim was an executive director with the bank at their London office, and after a series of transition, he joined Novogratz, a former hedge fund manager with leading financial consultancy and management firm Goldman Sachs.

Not just this, but the cycle from Goldman Sachs is now continuing as the former Goldman vice president Matt Goetz founded BlockTower last year and recruited for his company Michael Bucella.

However, the news has not been confirmed by anyone from Galaxy and the spokesperson simply declined to comment on it. According to the New York Times, “the firm has hired Goldman's best guy in blockchain”. Galaxy gadget is a company dealing with managing blockchain and related assets for the various company.

Bitcoin has been a roller coaster ride till now. Many people do not understand but it has come a long way since its inception in 2010 and the obvious whopping highs of $20,000 and the same whopping lows of $7000. But this is a good sign as data has shown that there has been an increase in the number of crypto funds till 245 this year, up and rising from 167 last year and only 19 firms in 2016, according to the latest numbers from research firm Autonomous Next.

Novogratz before leaving the Fortress Investment Group in 2015 said, rather warned that “after the fund lost money, told CNBC in November that bitcoin could multiply more than four times by the end of this year”.

He said on CNBC that, “Bitcoin could be at $40,000 at the end of 2018. It easily could, and Fast Money.Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well."

The price fall in bitcoin has been recorded up to 52% which is unpredictable and unbelievable. Not ust this, but the entire value of the crypto market has gone for a toss and has come crashing down seeing the latest bearish trends in the market, which is a sign of alarm for many!

On December 15 he announced that he is considering to delay the launch of the largest cryptocurrency ever!

He said, “We were supposed to launch on Dec. 15, and we paused,. I didn't like the market conditions as a starting point to take other investors' money."

"We are still feverishly building out a full merchant bank for crypto, i.e., I am still very bullish on the space," he said.

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